Greece vows to avoid default
Financial Times
By Kerin Hope in Athens George Papandreou has vowed to fully implement reforms demanded by international lenders so that Greece will be able to avoid default and remain a member of the eurozone. The Greek prime minister told officials from his ...

Another Sign Greece Will Default
Business Insider
Charlie Munger For anyone paying any, even casual, attention to the Greek –and the-yet-to-occur-but-will-most-likely-happen corresponding restructuring of the European Union – financial crisis, Greece not only currently teeters on the brink of default, ...

Govt pushing 9 IPPs to default on power generation
The News International
The financial mandarins of the government are forcing 9 IPPs – that served notices to the state-run power purchaser and the government last month – to default on electricity generation by halting payments, including Normal Daily Payments (NDPs). ...

The OpenJDK as the default Java on Linux
Java World
Recently I've received a bunch of private correspondence from people confused/worried over the change in the default Java packaging for Linux. For many Linux distributions, the official Sun/Oracle version of Java has been packaged up as the default ...

PSO needs Rs50 billion to avert default
Pakistan Times
Sources said that PSO needs this amount latest by 15/16 of the current month, as its total outstanding amounts were as high as of Rs90 billion out of which Rs50 billion was required urgently for averting default. Additional secretary, ministry of ...

Greek Default Nearing?
Coosa Valley News
Greece appears close to default. After a year and a half, of European plans, the end appears to be nearing. Greek attempts to meet European austerity demands are sending the economy into a serious slide at the same time more European countries are ...

Fitch Affirms NewStar Trust 2005-1; Revises Recovery Ratings
MarketWatch (press release)
The discounted cash flows yield a recovery projection in a range between 50-70% for the class D notes and less than 10% for the class E notes in a base-case default scenario. Recovery Ratings are designed to provide a forward-looking estimate of ...

Did 9/11 Cause the Financial Crisis?
Tapped
The wars ended up exacerbating the two biggest disasters of the last decade: the first being hurricane Katrina, the other, the financial crisis. Like Katrina, the financial crisis would not have been so severe had our response to 9/11 not set the stage ...

Jim Rogers: Buy All The Euros You Can If Greece Defaults
Business Insider
A Greek default may lead to a default in Italy, Spain and elsewhere, causing massive selling in the euro. Jim Rogers says in this likely scenario -- which could begin this weekend -- you should buy the dip. He told CNBC yesterday (via @_alea): If this ...

G7 meets to discuss financial crisis
Press TV
This, technically, is a default. Now, the problem is not whether there is a default or not but what kind of arrangement debtors and creditors can agree and maintain to address a problem which is because both would like to see it resolved,” Padoan added...

Stocks: All eyes on Greece and inflation
CNNMoney
By Maureen Farrell September 10, 2011: 10:09 AM ET Markets dropped sharply Friday as rumors of a possible Greek default circled the globe. The default could come as early as this weekend. Whether or not something happens in Greece will largely rule ...

David Kuo: In spite of the gloom, you can beat the market
The Independent
For instance, Josef Ackermann, the chief executive officer of Deutsche Bank, reckons market conditions remind him of the 2008 financial crisis, which spawned the worst global crisis since the Depression. The second bailout for Greece is showing signs ...

Week Ahead: Europe continues to be a hurdle for markets
Moneycontrol.com
Rumors that Greece was close to default added to Friday's global equities selloff and is keeping markets on edge even though Greek officials denied the rumors and no payments are due for several weeks. There is a flurry of US economic data in the ...

Greek Default Imminent - Eurozone Crisis Escalates
mi2g
We have warned about this step-by-step Eurozone break-up scenario for the last several years, since before the start of the global financial crisis in 2007; 4. Monetary union without fiscal union was always going to be a recipe for Eurozone chaos which ...

Stocks Skid 2.7% Friday on European Fears
Barron's
Investors realized last week that a resolution to Europe's financial crisis may be far more important to the future of the US financial markets than just about anything President Obama can say or the Federal Reserve can do. A rumor Friday morning that ...

MIDAS: Remedial action sees GKN firing on all cylinders
This is Money
By Joanne Hart, Investments Editor The financial crisis of 2008 hit the world by surprise and the suffering was almost universal. Countless businesses saw sales and profits slump, dividends cut and investment slashed. Weaker companies fell by the ...

TOURISM: Inland hotels still challenged to book guests
Press-Enterprise
The hotel market began to resemble the housing market with properties falling into default, and foreclosure buyers stayed away until the price was too good to refuse. New construction had been a rare occurrence since 2008. While the economy continues ...

Hong Kong Property: Further Warnings On Macro Risks
Business Insider
We know that the European banking system will be in turmoil due to the exposure to sovereign debts, and we should be worried about the contagion to other sovereigns after Greece default. At the same time, as the Euro is crashing, US dollar has ...

Real estate, unreal times
Business Standard
The US financial sector used exotic derivatives such as credit default swaps, and subprime bundled loans and so on, to hyper-inflate the bubble. But some flawed assumptions made most US institutions and rating agencies complacent and those beliefs are ...

Calculated Risk: Greece: Articles on financial crisis
By CalculatedRisk
The Greek prime minister will face a hostile audience on Saturday when he makes a key economic policy speech ... his finance minister was on Friday forced to dismiss market speculation that the country might default over the weekend ...
Calculated Risk

Preparing for a Credit Crisis
By John Mauldin
The markets are pricing in an almost 100% certainty of a Greek default (OK, actually 91%), and the rumors in trading circles of a default this weekend by Greece are rampant. Bloomberg (and everyone else) reported that ... More on the contagion factor below. “The existence of a 'Plan B' underscores..... While they are reportedly reducing their exposure, there is some $1.2 trillion still in euro-area institutions that have PIIGS exposure.) Look at the following graph from the St. Louis Fed. ...
Thoughts From The Frontline